The stable performance of the shopping center investor Deutsche EuroShop
continued in the third quarter of 2016. On revenue of 152.3 million (+0.8%
compared with the same period in the previous year), net operating income (NOI)
was unchanged year on year at 136.0 million, while EBIT was 131.5 million
(+0.3%).

Earnings before taxes
and measurement gains/losses rose from 93.9 million to 97.1 million (+3.4%),
while consolidated profit fell by 1.9% to 72.2 million, or 1.34 per share,
due to higher investment costs than in the previous year. The performance of
the operating business has remained stable, said Wilhelm Wellner, CEO. Our
EPRA earnings per share, which is the result adjusted for measurement effects,
rose by 2.1% to 1.44 per share, while funds from operations (FFO) improved by
3.7% to 1.74 per share.

On the strength of
its performance to date, the company is reaffirming its forecasts for 2016 and
making modest upward adjustments for the coming year to reflect the acquisition
this October of the Saarpark Center, which will be accounted for at equity. The Executive Board now forecasts the following ranges
for 2017:

Revenue: 201 million to 205 million (unchanged)

Earnings before interest and taxes (EBIT): 175
million to 179 million (unchanged)

Earnings before taxes (EBT) excluding measurement
gains/losses: 133 million to 136 million (131 million to 134 million)

Funds
from operations (FFO) per share: 2.38 to 2.42 (2.34 to 2.38)

The company still
foresees an increase of five cents in the dividend for 2016, to 1.40 per
share.

Deutsche
EuroShop will hold a conference call for analysts in English at 10 a.m. on
Tuesday, 15 November 2016, which will be carried out as a live webcast at www.deutsche-euroshop.com/ir.

Deutsche EuroShop  The shopping center
company

Deutsche EuroShop is the only public company in Germany to
invest solely in shopping centers in prime locations. The MDAX-listed company
currently has investments in 20 shopping centers in Germany, Austria, Poland
and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the
Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among many
others.